BCH rate rises by 103% after the launch of EDX Markets

The exchange was launched by a consortium of major financial corporations

26.06.2023 - 07:20

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3 min

What’s new? The rate of Bitcoin Cash (BCH) gained 103,3% from June 20 to 25, momentarily hitting $213,91. The rise began on the day the EDX Markets crypto exchangefor institutional investors, which is backed by major financial corporations Fidelity, Citadel, and Schwab, launched. The platform supports spot trading of BCH as well as BTC, ETH, and LTCfrom the first day of operation. As of June 26, 07:00 UTC, the Bitcoin Cash rate corrected to $197,3 (according to Binance).

BCH price chart on CoinGecko aggregator

What else is known? Experts at analytics company Santiment also noted a sharp jump in the popularity of altcoin in social networks. According to their data, the volume of discussions of BCH by members of the crypto community has reached its highest level since 2020.

📈 With the assistance of #EDXMarkets, launched on June 20th, #BitcoinCash has been the biggest beneficiary with a massive +79% price gain in 4 days. Notably, $BCH has seen a 3-year high in social discussion rates, & volume has easily eclipsed 2023 highs. https://t.co/6fz4RL28tH pic.twitter.com/MNn59zRy8T
— Santiment (@santimentfeed) June 24, 2023

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On May 15, a hard fork took place on the Bitcoin Cash network, which added support for smart contracts and the ability to issue tokens. The upgrade also increased the privacy and security of the blockchain. Then the daily growth of the asset was 4,3%.

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